Monday, March 2nd5.9°C
25405
23829

Husky to develop Newfoundland oilfield

Husky Oil Operations Ltd., a subsidiary of Husky Energy (TSX:HSE), has been approved to develop the South White Rose Extension project off Newfoundland.

The Canada-Newfoundland and Labrador Offshore Petroleum Board made the announcement today for the project that's expected to cost about $1.2 billion.

South White Rose is estimated to contain about 33 million barrels of oil that can be recovered using subsea flow lines connected to the SeaRose production vessel.

Husky spokeswoman Colleen McConnell says first oil is expected by the end of next year.

The offshore petroleum board says the province and Ottawa have ratified the board's approval.

McConnell says the first phase will start this summer with the installation of gas injection equipment at the site 350 kilometres east of St. John's.

The Canadian Press


Read more Business News

25103


Recent Trending




Today's Market
S&P TSX15243.35+9.01
S&P CDNX702.89-3.84
DJIA18260.14+127.44
Nasdaq5000.928+37.40
S&P 5002114.97+10.47
CDN Dollar0.7974-0.0021
Gold1207.70-4.90
Oil51.64-0.50
Lumber297.70+0.50
Natural Gas2.704-0.03

 
Okanagan Companies
Pacific Safety0.135+0.015
Knighthawk0.010.00
QHR Technologies Inc1.60+0.05
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.04+0.005
Russel Metals25.37-0.01
Copper Mountain Mining1.28-0.02
Colorado Resources0.135-0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225-0.01

 



25194

FEATURED Property
2197057103-2205 Louie Drive
2 bedrooms 3 baths
$534,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


24681